GoldenTree sells its digital asset unit, GoldenChain, to investment firm Republic. The deal improves Republic’s foothold in the cryptocurrencycurrency field and appoints industry veteran Joe Naggar to manage the newly established Republic Digital.
Naggar is expected to take over as Chief Executive Officer (CEO) and Chief Investment Officer (CIO) of Republic Digital, a newly formed organization focused on digital asset management.
GoldenTree will continue to invest in GoldenChain, indicating its faith in Republic’s capacity to realize the subsidiary’s full potential.pen_spark
“We are excited to welcome GoldenChain into the Republic family,” said Republic President Andrew Durgee. “This acquisition is a key step in our efforts to increase our presence and expertise in the digital asset area. We are sure that the combined strengths of Republic and GoldenChain will result in enticing prospects for our investors.”
Republic hopes that the acquisition will strengthen its industry position and provide greater value to its consumers. Republic will continue to use the aggregate experience of its expanded workforce in the future to study new opportunities, drive innovation in the field of digital assets, and provide investors with great results.
Republic’s commitment to remaining at the forefront of the changing digital asset market is bolstered by the strategic acquisition and development of Republic Digital, which strengthens Republic’s position as a dependable partner in the industry.
GoldenTree’s founder, managing partner, and chief investment officer, Steve Tananbaum, stated, “We are grateful for Joe’s invaluable contributions to GoldenTree over the years, and we look forward to him leading this new chapter for Republic Digital.”
Mr. Naggar, who has over 25 years of investment experience and a large network of contacts in the digital asset market, will be important in driving Republic Digital’s progress. Before his most recent position as Head of Digital Assets at GoldenChain, Mr. Naggar was an important figure in GoldenTree’s digital asset efforts.
